SAN DIEGO, CA--(Marketwire - July 13, 2010) - Franklin Wireless Corp. (OTCBB: FKWL), the market leader in dual-mode WiMAX and CDMA modems for 3G and 4G wireless broadband data communications, announced today it has gained full control rights of Diffon Corporation, which is Franklin's majority owned R&D facility located in Seoul, South Korea. Franklin now controls all of Diffon's board seats and OC Kim, president of Franklin Wireless, will also serve as CEO of Diffon. In addition, Franklin has increased its ownership stake in Diffon from approximately 51% to approximately 58% and has announced the name change of Diffon to Franklin Technology Inc. (FTI). FTI will continue to operate as Franklin Wireless' R&D facility providing product design, development and manufacturing services to the company.
"Gaining full control of FTI will allow us to directly oversee all of the important initiatives taking place at our South Korea-based R&D facility," said OC Kim, president of Franklin Wireless. "This will include directly managing our company's product design and development efforts and tightly integrating them into our product roadmap. In addition, the name change reflects FTI's direct strategic alignment with Franklin Wireless."
About Franklin Wireless
Franklin Wireless Corp. (OTCBB: FKWL) is engaged in the design, manufacture and sale of high speed wireless data products including third generation ("3G") and fourth generation ("4G") modems, routers and modules. Our current products are focused on widely deployed cellular technologies including CDMA EVDO Rev A, HSPA, WiMAX and LTE. We were the world's first supplier of both CDMA EVDO Rev A and dual-mode (CDMA EVDO Rev A/WiMAX) Universal Serial Bus (USB) modems. Franklin's other products include Wi-Fi "hotspot" routers (which operate over WiMAX or CDMA networks) and wireless modules that are generally sold to original equipment manufacturers (OEMs). Our company's primary customers are wireless carriers who seek innovative, reliable and cost effective technology solutions for their subscribers. Our customer base extends from the United States to South America and the Caribbean.
Franklin Wireless is headquartered in San Diego, California. For additional information, please visit www.franklinwireless.com.
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements.